Wealth management firm Seven Bridges has acquired Gateshead-based pensions and investment firm Pension Matters, as it makes plans for future growth.
The acquisition by the firm, also based in Gateshead, will bring 600 new clients to the group and add £110m of assets under management.
The move allows plans for Seven Bridges to widen and diversify its product offering as it hopes to execute further growth over the next 12 months.
The company has succeeded in plans to diversify into other sectors over the past year. In January 2019, Seven Bridges launched two new businesses: insurance advice company Seven Bridges Life and estate agent business Seven Keys.
Seven Bridges managing director Ryan Parker (pictured) said: "Having known the director of Pension Matters for many years, we were aware that the company's outlook on client service was in line with ours, and this was paramount.
"The acquisition not only brings a large number of new clients to Seven Bridges, with whom we are excited to work alongside, but it also brings new employees with fresh ideas and in-depth knowledge of the industry."
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